- Release tax-free cash from your house with The Derbyshire Building Society Equity Release
- No need to make regular monthly payments
- Use the money for a motorhome or new car
- Free valuation
- Continue to stay in your property
- Often used to optimize tax planning
Loan to value for equity release?
You can get 65% of your property’s value. For example, if your house is worth £300000 you can release £195000.
Concise Finance Customer Reviews
Sophie G from Aberdeen
The financial advisor I’ve had for 25 years said I could save inheritance tax by getting £350,000 of equity release. The money was lent at a very low-interest rate close to 2% and competitive with normal mortgages you would get by proving income. I have saved a lot of tax.
Ms T from Hammersmith
My husband recently died leaving me with a mortgage I could not afford to pay. The lifetime mortgage allowed me to pay off the mortgage and have enough money left over for a new bathroom, kitchen, and roof repair.
Mr Williamson from Chiswick
My son is a chef in a care home. He is not well paid. No way his bank would lend him the money to buy a flat. My equity release enabled him to put a substantial deposit down so his mortgage was very small. My equity release interest rate was close to his interest rate offered by his bank.
Mrs V from Hastings
I had spent my life running up credit cards and loans then getting interest-only mortgages to pay off the debt. I got to retirement age and still owed the bank £160,000. The term was about to expire, and I could not afford the payments on my pension anyway. I got £180,000 equity release and now I am more comfortable with no monthly repayments and I spent £20,000 on a new bathroom and kitchen. I now know I can stay in my home.
Mr Smith from Kendal
My financial advisor told me that I should get equity release and gift money to my 5 children now as it would save a massive amount of inheritance tax.
Mrs M from Birmingham
With no brokers fees and no lenders fees, I got an interest-only retirement mortgage which I pay each month from my private pension. The money released went to my daughter for her wedding and deposit for her next house. She wanted a family, and her flat was too small.
Mrs G from Leeds
My daughter is a single mother, and I got a £120,000 lifetime mortgage to buy her a flat outright as she has had a succession of poorly maintained rental flats not suitable for her child.
Mrs E from London
I was advised to get equity release from my East London home to minimise inheritance tax. My son and daughter used the money to pay down their mortgages. The interest rate on the equity release was so low it was close to their mortgage rate.
Mr G from Kent
I got an interest-only lifetime mortgage and gave my sons £100,000 each so they could put a deposit down on a home. My money made it possible for them to get a very good mortgage deal, especially one son who is not well paid.
With my power of attorney, I got equity release on my father’s house to pay for disability provisions including a lift and a new kitchen.
Areas of the UK where Lifetime Mortgages are routine
- West Malling
- Dalton Town with Newton
- Cleator Moor
The mortgage lender will want to know if the property is a Semi detached freehold house or a Leasehold flat and if the resident is an Owner Occupier.
Successful business owners who could benefit from Home Reversion Scheme estate planning
- Other retail sale in non-specialised stores Southborough
- Sawmilling and planing of wood Heywood
- Motion picture, video and television programme post-production activities Chulmleigh
- Manufacture of wine from grape Weston-super-Mare
- Specialists medical practice activities Coggeshall
- Photocopying, document preparation and other specialised office support activities Tynemouth
- Manufacture of fruit and vegetable juice Cromer
- Dismantling of wrecks Northallerton
- Retail sale of newspapers and stationery in specialised stores Stalbridge
- Retail sale of textiles in specialised stores Skipton
- Manufacture of homogenized food preparations and dietetic food Nailsea
- Manufacture of power-driven hand tools Horwich
- Manufacture of motorcycles Swindon
- Manufacture of sugar confectionery Earby
- Other specialised construction activities n e c Whitchurch
- Production of electricity Wadebridge
- Manufacture of pulp Didcot
- Funeral and related activities Bootle
Pitfalls of Home Reversion Schemes
Lumpsum lifetime mortgages can reduce the value of your estate. Monthly payment equity release may impact ability to claim entitlements. You may need to pay a valuation fee and you could be exposed to changes in interest rates with some products.
How much is it common to release from a home
- 50% monthly payment lifetime mortgage AIG Life
- 55% LTV interest-only lifetime mortgages Equifinance
- 35% loan to value monthly payment equity release Shawbrook
- 25% LTV home reversion plans The Mortgage Works
- 55% LTV interest-only lifetime mortgages Age Partnership
- 30% LTV home reversion schemes United Trust Bank
- 25% LTV lifetime mortgage with flexible drawdown cash release Accord Mortgages
Tough to finance home titles can include properties built or converted into dwellings within the last 10 years, properties with a single annexe or other self-contained part of the property, properties with a small number of solar panels or a wind turbine on the land for domestic use, properties using rooms, land or outbuildings for business purposes which are not personal to the borrower(s) or which extend to more than 50% of the property to be secured and properties with mobile phone masts which are within influencing distance of the house.
Difficult to finance property types can include properties with post 1945 asbestos or similar composition roof tiles , timber framed properties built between 1920 and 1965, privately developed flats, maximum four storeys with a lift, privately developed flats in blocks of five storeys or more and properties where the flat is accessed via a deck or balcony.
Difficult to mortgage property types include properties currently undergoing substantial alterations, extensions or repairs, entirely tenanted properties, freehold houses and bungalows (England, Wales, Northern Ireland), crofted houses and properties with owned solar panels.
Common loan to valuesof Standard Chartered later life mortgages for over 60s, Zurich lifetime mortgages for people over 55, Sainsburys mortgages for people over 50, Principality Building Society mortgages for over 65, Nottingham Building Society retirement interest only mortgages over 60 and Progressive Building Society mortgages for people 60 plus are 50%, 60% and 70%.
UK Equity Release Scheme Lenders
- Age Partnership
- One Family
- Legal and General
- One Family
Popular LTV ratios of LVE equity release plans for people over 60, More 2 Life later life interest only mortgages over 60, OneFamily lifetime mortgages for people over 55, YBS mortgages for over 60s, Royal London mortgages for 60 year olds and SunLife mortgages for 60 year olds are 35%, 55% and 65%.
- HSBC Equity Release Plan
- Halifax Retirement Mortgage Broker
- Nationwide Retirement Mortgage Age
- Natwest Lifetime Mortgage Maximum Ltv
- Nationwide Lifetime Mortgage On Second Property
- Natwest Retirement Mortgage Uk
- Lloyds Lifetime Mortgage Calculator
- Halifax Lifetime Mortgage Advisers
- Lloyds Bank Retirement Mortgages Home
- Santander Retirement Mortgage Advice
- Lloyds Bank Equity Release Loan
- Santander Equity Release Loan
- Nationwide Equity Release From Property
- HSBC Lifetime Mortgage Reviews
- Santander Lifetime Mortgage Drawdown Scheme
- Natwest Equity Release From Property
- Lloyds Retirement Mortgage Uk
- Lloyds Bank Lifetime Mortgage Broker
- Lloyds Equity Release Retirement
Some of the most popular loan to value percentages of Lloyds later life interest only mortgages over 75, Barclays interest only lifetime mortgages for over 70s, Natwest lifetime mortgages for people over 55, Legal and General pensioner mortgages over 60, Royal Bank of Scotland pensioner mortgages over 55 and Nationwide Building Society retirement mortgages over 65 are 50%, 55% and 65%.
- L&G Legal & General Flexible Lifetime Mortgage
- Pure Retirement Equity Release Plans
- Canada Life Second Home Voluntary Select Plan
- More2Life Capital Choice Plus Plan
- Liverpool Victoria LV Equity Release Schemes
- Nationwide Interest Only Lifetime Mortgage
- HSBC Equity Release Schemes
- Royal Bank of Scotland Equity Release Plans
- Aviva Lifetime Mortgages for Pensioners
- Bridgewater Equity Release Schemes
- Hodge Lifetime Flexible Drawdown Plan
- Pure Retirement Equity Release Schemes
- TSB Equity Release Plans
- Bridgewater Equity Release Plans
- Canada Life Lifestyle Gold Flexi
- Just Retirement Equity Release
- L&G Legal & General Flexi Max Voluntary Repayment Plan
- Pure Retirement Classic Drawdown Lite Plan
- Lloyds Bank Lifetime Mortgage
- Royal Bank of Scotland Equity Release
- Age Partnership Lifetime Mortgage
It’s very regular to encounter people looking for lump sum lifetime mortgages, monthly payment life time mortgage or home reversion schemes, however, Lifetime Mortgage from L&G like AA equity release are keen to see paperwork to show your situation in the form of investment statements.
Equity Release percentages of your current property value
The older you are and the unhealthier you are the more tax free cash you can release.
Many of the most appealing pensioner finance products include TSB help to buy for over 60s, Barclays retirement mortgages, Natwest mortgages for pensioners, Legal and General mortgages for 60 year olds and Nationwide retirement interest only mortgages.